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EUR/USD upside remedial still in play – Commerzbank


Karen Jones, Head of FICC Technical Analysis at Commerzbank, does not preclude a re-trial of the 1.1880/86 territories.

Key Quotes

“EUR/USD is moving back gradually extremely close term yet while over the 20-day mama at 1.1681 we will keep on assuming a close term upside predisposition. The amendment higher stays in constraint for the present and is fit for testing the current high at 1.1880 and the 61.8% retracement at 1.1886. Over the 1.1858/1.1910 zone (early August and October highs) lies the 1.2092 September high”.

“Should disappointment at 1.1880/86 be seen then we should see the market retest the 200-day mama at 1.1327”.

“A slide back and close beneath the 20-day mama at 1.1685”.

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